The stage may be set for strong home sales and rising property prices in Massachusetts during 2015. The Bay State’s housing market showed renewed vigor in the fall of 2014 after a surprise mid-year hiatus and that strength should carry over into the new year. Some highly encouraging developments in the national economy in the latter half of 2014 should help local real estate power ahead in 2015. This may prove to be an exceptionally good year for both home sellers and buyers in the Commonwealth!
Case-Shiller Boston Price Index tells the story of 2014
The seasonally adjusted Case-Shiller Home Price Index for Greater Boston shows you in a nutshell what took place in Massachusetts real estate during 2014 and why the 2015 market may be ripe for a further upswing.
The first four months of the 2014 witnessed strong home price gains amid white hot market conditions. There was a pronounced lack of supply of homes for sale throughout most of Greater Boston and the I-495 loop which spurred widespread buyer bidding wars across the region. The market began to regain balance in the 2nd quarter as new inventory entered the market during the spring home selling season. By summer, the Boston Price Index was in a mid-year slump as buyer demand failed to absorb all the new listings. The increased supply of homes for sale in the latter half of the year was great news for buyers, but caused angst among listing agents and home sellers who were caught off guard by the market shift.
Fantastic economic news to the rescue!
The Case-Shiller Greater Boston Index showed renewed life in September and October (there is a 2 month reporting lag in the Index). The price rebound coincides with the advent of some highly bullish economic trends for the United States: the national economy kicked into overdrive and world oil prices moved dramatically lower. This suggests that job growth and consumer spending will accelerate in 2015, bolstering local housing! With the Federal Reserve likely to keep interest rates near historic lows through mid-year, the outlook appears positive for the 2015 real estate market.
2014 by the numbers
Looking at the median sales price of single family homes sold in Massachusetts on MLSPIN since 2010 shows a market building momentum.
The median single family home sales price in MA for 2014 was up 3.6% over the prior year. 2013 had seen a healthy price gain, so 2014’s performance on top of that puts Massachusetts home prices 14.7% ahead of where they were back in 2011.
MA home sales volume slips
Single family home sales volume across Massachusetts lagged a bit in 2014, dropping 2.6% from 2013’s total.
However, 2013 saw the highest single family home sales numbers in the Bay State in years. 2014’s home sales volume exceeds annual production of five of the last six years. So 2014 was a very good year overall!
2014 in the Town of Franklin, MA
2014 was a very positive year for real estate in the Town of Franklin, MA as the median single family home sales price rose briskly.
The median sales price of Franklin homes sold in 2014 on MLSPIN was $402,500, 13.3% higher than 2013’s median. This was the first time Franklin’s median exceeded $400,000 in several years
High School behind the strong price gains?
Franklin opened a beautiful new high school in 2014. The advent of the $105 million facility was the dominant news story in town for the year and and the new school seemed to boost buyer interest in the Franklin community. Franklin High ranks very high in test scores; below is a video gallery on the new facility at Franklin High.
Look for home buyers to continue to zero-in on Franklin, MA due to that stupendous new school!
Sales volume down in Franklin
2014 sales volume fell 6.3% in Franklin compared to the previous year.
But 2013 saw the highest number of Franklin single family homes to change hands on MLSPIN since before the Great Recession. Except for 2013’s total sales, 2014 saw the greatest number of homes sold in Franklin since 2009.
Selling in 2015?
Interest rates may be on the rise by midyear, so it may pay to make your move earlier rather than later in 2015.
If you’re thinking of selling your home, some simple steps you can take before you put your home on the market can make a big difference in how well you do. Contact Warren to get expert advice on your best home-selling strategies. To find out what your property is really worth, get your free, no-obligation Home Value Report from Warren!
Home buyers: consider Franklin, MA
If you are in the market for a home in Massachusetts, Franklin is a great choice!
Franklin has wonderful schools, superb recreational resources, many fine neighborhoods and plentiful shopping in town and near by. Commuting to work from Franklin is made a whole lot easier by Franklin’s two commuter rail stations. Contact Warren for help buying a home in Franklin, MA!
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You get more with Warren Reynolds than you do with other top real estate agents. You’ll find in Warren rare knowledge and experience dedicated to helping you achieve all the value that home brings. Warren has a law degree and 20+ years of home selling success in Massachusetts. — talk with Warren today! 508-561-6259
"We have now bought and sold five homes. By far, you have been the best realtor we have worked with. Your professionalism and knowledge are so valuable to your clients. You made this process so easy. "-CB
Make better decisions
and feel in control.
Did you know you can materially improve your home selling success by choosing your marketing agent and brokerage brand wisely? It’s true! A marketing agent with a sterling reputation, backed by a strong brokerage brand, will do wonders for the reception your home gets upon entry to market. Call Warren today! 508-561-6259
"As first time homebuyers we were fortunate to work with Warren. He was a great asset and sounding board. He always gave solid advice. Warren played a pivotal role in helping us negotiate with a difficult seller. We truly benefitted from having Warren in our corner and so will you." -JK
Maximize your home selling success.
Not only is Warren highly skilled and dedicated to protecting your best interests, he will be highly responsive to your needs! He CARES about his clients and is always, always there for them. Why not give it a try? Contact Warren now and see how well he takes care of you! – talk with Warren today! 508-561-6259
"I had many, many questions which Warren was always more than willing to answer with a never ending patience. Throughout the process Warren looked out for my best interest. I may have purchased a garden style condo but Warren treated me like I was purchasing a million dollar estate!" -MP
Get the attention you deserve.
Warren is a very creative real estate practitioner and he uses that creativity in ways that provide important advantages to clients. Creatively runs in Warren’s family! His uncle was Harnett T. Kane, an internationally-recognized investigative journalist and New York Times best-selling author of thirty books about the American South. Experience Warren’s refreshing difference today! 508-561-6259
"Your creative approach to all aspects of my move helped make the transition easy and pleasurable. You were recommended to me by a friend who appreciated your integrity, expertise, friendliness and conscientiousness - qualities that I have witnessed in abundance as we've worked together." -KB
Get creative with Warren.
Warren is a highly dedicated professional in all his real estate dealings. That means he will continue to serve you well, even when others would compromise on their commitments. Warren’s ultimate goals in business are better transactions and greater client satisfaction. Talk with Warren today! 508-561-6259
"As first time homebuyers we were fortunate to work with Warren. He was a great asset and sounding board. He always gave solid advice. Warren played a pivotal role in helping us negotiate with a difficult seller. We truly benefitted from having Warren in our corner and so will you." -JK
Maximize your home selling success.
All real estate agents are legally and ethically bound to be fiduciaries acting in their client’s best interests. His name stands for integrity and he takes his fiduciary duties to you very seriously. He’ll steadfastly put your interests first throughout your home purchase or sale – talk with Warren today! 508-561-6259
"Warren was always there for us. Throughout the process, Warren kept on top of all our concerns. Warren worked for us, and looked out for our best interest. He is a very professional and caring person." - BP
Feel safe and well taken care of.
Warren is a highly dedicated professional in all his real estate dealings. That means he will continue to serve you well, even when others would compromise on their commitments. Warren’s ultimate goals in business are better transactions and greater client satisfaction. His devotion to excellence can demonstrably improve your home buying and selling decision-making and, consequently, your experience of home ownership. Warren constantly stays current on the local housing inventory. And he is conversant with the broader market trends that affect home sales statewide link to Market Updates. Warren knows that the market knowledge he works so hard to maintain and his high standards of real estate practice help him achieve for you the lasting, true value of home ownership. Talk with Warren today! 508-561-6259
"Warren was the finest real estate agent we've ever worked with. This was evident to us in comparison to quite a few realtors we attempted to utilize, as they were not very helpful, understanding or willing to work with us based on our preferences." -SM
“If you think it’s expensive to hire a professional,
wait until you hire an amateur.” Red Adair
Did you know you can materially improve your home selling success by choosing your marketing agent and brokerage brand wisely? It’s true! A marketing agent with a sterling reputation, backed by a strong brokerage brand, will do wonders for the reception your home gets upon entry to market. Warren is known in the local brokerage community as a dependable, highly skilled professional who is a straight-shooter. Other agents like working with Warren because they know they can trust him to be a reliable partner in any transaction. And the Berkshire Hathaway HomeServices brand stands for sound decisions and extraordinary strength and stability. The “Forever Brand” brokerage created by Warren Buffet sets the standard for the real estate industry by focusing not on selling more homes, but rather on selling homes for more!Call Warren today! 508-561-6259
"As first time homebuyers we were fortunate to work with Warren. He was a great asset and sounding board. He always gave solid advice. Warren played a pivotal role in helping us negotiate with a difficult seller. We truly benefitted from having Warren in our corner and so will you." -JK
Maximize your home selling success.
Not only is Warren highly skilled and dedicated to protecting your best interests, he will be highly responsive to your needs! He CARES about his clients and is always, always there for them. In person, by phone, email or text, whenever you need him, you’ll get a prompt response from Warren! Warren’s clients rave about the high degree of consideration and attention they get from him. Why not give it a try? Contact Warren now and see how well he takes care of you! – talk with Warren today! 508-561-6259
"I had many, many questions which Warren was always more than willing to answer with a never ending patience. Throughout the process Warren looked out for my best interest. I may have purchased a garden style condo but Warren treated me like I was purchasing a million dollar estate!" -MP
Get the attention you deserve.
Warren is a very creative real estate practitioner and he uses that creativity in ways that provide important advantages to clients. Creatively runs in Warren’s family! His uncle was Harnett T. Kane, an internationally-recognized investigative journalist and New York Times best-selling author of thirty books about the American South. Warren employs his own creativity by producing compelling marketing, both in print and especially online! His www.02038.com, is a highly effective website promoting the wonderful lifestyle afforded by the Town of Franklin, MA. And his Market Updates content on Massachusetts real estate trends gives home buyers and sellers alike the context they need to make more informed decisions about their housing investments. Warren frequently uses his abilities to devise resourceful solutions to the diverse challenges that threaten to complicate most real estate transactions. Warren has made real estate his career and won many sales awards in his 20+ years in brokerage, including the highly prestigious Chairman’s Circle Gold Award and the elite Centurion Award. Experience Warren’s refreshing difference today! 508-561-6259
"Your creative approach to all aspects of my move helped make the transition easy and pleasurable. You were recommended to me by a friend who appreciated your integrity, expertise, friendliness and conscientiousness - qualities that I have witnessed in abundance as we've worked together." -KB
Get creative with Warren.
You get more with Warren Reynolds than you do with other top real estate agents. You’ll find in Warren rare knowledge and experience dedicated to helping you achieve all the value that home brings. Warren has a law degree and 20+ years of home selling success in Massachusetts. His legal knowledge and decades-long experience in putting — and keeping — real estate sales together give him a better handle on the legal, practical and emotional dynamics of the real estate transaction. Warren uses these skills to empower clients to achieve more! He often anticipates and resolves problems BEFORE they can become serious impediments. Enjoy the sense of trust, security and control that comes from having a highly skilled expert at your side — talk with Warren today! 508-561-6259
"We have now bought and sold five homes. By far, you have been the best realtor we have worked with. Your professionalism and knowledge are so valuable to your clients. You made this process so easy. "-CB
Make better decisions and feel in control.
All real estate agents are legally and ethically bound to be fiduciaries acting in their client’s best interests. But many agents give their fiduciary duties short shrift in their quest for the quickest and easiest path to a closing. Not Warren Reynolds! His name stands for integrity and he takes his fiduciary duties to you very seriously. He’ll steadfastly put your interests first throughout your home purchase or sale. This may make Warren work longer and harder for you than most other agents would. But ultimately, Warren’s diligence and attention to detail is his commitment to an experience that transcends the sale. He wants you to have the confidence and peace of mind that comes with having a true fiduciary protecting you. Discover the difference of working with an agent who does not view you as just another opportunity for a commission – talk with Warren today! 508-561-6259
"Warren was always there for us. Throughout the process, Warren kept on top of all our concerns. Warren worked for us, and looked out for our best interest. He is a very professional and caring person." - BP
Feel safe and well taken care of.